Our website uses cookies to improve your user experience. If you continue browsing, we assume that you consent to our use of cookies. More information can be found in our Cookies Policy and Privacy Policy.

Rathbones’ Coombs makes first allocation to India

Rathbones head of multi-manager investments David Coombs has made his first allocation India as he feels the country stands to benefit from the energy revolution in the US.

Coombs made an initial allocation of 2 per cent in the £7m Rathbone Enhanced Growth fund by buying into the £492.3m JP Morgan Indian investment trust at a discount to its net asset value.

Coombs says: “I am trying to look for beneficiaries of changing trends. I thought of India because it is an economy that will benefit from lower energy costs – the UK would be another funnily enough.”

Mindful of the country’s setbacks, Coombs is optimistic of its long-term future and points to India’s large workforce demographics, good rule of law and stable economy for his reasoning.

Coombs says: “This is the first step to a longer term position. Hopefully after the election we will get a clearer idea of how the economy will develop.”

Chase de Vere head of communications Patrick Connolly agrees the energy revolution represents a longer term benefit and acknowledges the sentiment surrounding India.

Connolly says: “There is a lot of negative sentiment around India and as a result there have not been many buyers. The Indian economy has had a difficult time and there is a strong argument there is good value there.

“If you are using a multi-manager, you want a manager who is willing to go out and find value. It is positive for Coombs that he is willing to do that.”

Recommended

Tenet has set aside a total of £4.5m to cover the cost of compensating investors under the Arch cru redress scheme and its settlement with the Financial Services Compensation Scheme over recommending Keydata products. The company has not provided a breakdown of how much of the provision relates to Arch cru and how much concerns […]

Teachers Building Society will relaunch its Help to Buy product later this week, two weeks after a Government agency told the lender to pull its previous product because its LTV ratio was too high. The new product, which launches on Friday, will be a 2.89 per cent three-year discount mortgage available up to 75 per […]

Ever since the collapse of Lehman Brothers in 2008 and the resulting global financial crisis, investors have naturally become more risk averse. This is clearly visible when observing flows into risk-targeted funds, where those at the lower end of the volatility scale are proving far more popular than those that have a much larger weighting […]

StructuredProductReview.com is mounting a campaign with the support of 30 adviser firms to refer at least 500 complaints against Reyker Securities to the Financial Ombudsman Service over charges levied on former Merchant Capital investors unless they are lowered. Reyker took over as custodian of Merchant Capital plans after the collapse of the structured products firm in […]

Newsletter

Latest from Money Marketing

You have to do hard things to be successful in life. The things no one else does. Why? Life coaches will tell you those are the things that define you; the things that make the difference between existing and living. This may well be true but if that does not float your boat, then American […]

Only a quarter of women are shopping around for their retirement income, according to national IFA LEBC. Customers of LEBC pension advice business The Retirement Adviser are far more likely to use its whole of market service to find the best retirement income solution if they are male. LEBC says the proportion of women using […]

A weekly account of the curious goings-on in the world of financial services A game of Brexit MonopolyLast week, in a foreign policy speech, Theresa May said Brexit negotiations were in their “endgame”. WSJ thinks this is highly unlikely, having heard that not even a quarter of European law has been rolled over yet. Wingate […]

19th November 20182:58 pm

Comments

Leave a comment

Why register with Money Marketing ?

Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.